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Querist : Anonymous

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Querist : Anonymous (Querist)
13 January 2011 There is a condition where if we converted pvt ltd co to llp we cant withdraw current capital for 3 years from conversion. I want to know can we withdraw from fixed capitals? and is there any capital gain tax on withdrawal of capitals?
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
13 January 2011 Fixed capital cannot be withdraw for 3 years.

capital gain does not apply on withdrawing the capital.
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Querist : Anonymous

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Querist : Anonymous (Querist)
13 January 2011 Thanx for the reply.
Sir,Please tell me where it is written that we can't withdraw from fixed capitals for 3 years.
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